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Oil price surge offers budget relief but raises risk for Nigeria

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Dulue Mbachu

Dulue Mbachu, an experienced journalist, covers business and politics for Allen Dreyfus.
  • Israel-Iran war lifts Brent prices, helping revenue
  • Political tensions and low output threaten gains

Abuja, Nigeria – Nigeria is set to get some relief from difficulties in funding its 2025 budget as the conflict between Israel and Iran triggers a spike in crude oil prices, the country’s main export.

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Farm produce being exported. Photo by Shelley Pauls @ Unsplash
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Bassirou Diomaye Faye, President of Senegal. Photo @ Office of President, Senegal/Facebook
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Busy street of Nigeria. Photo Muhammad Ibrahim @ Unsplash
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South Africa's manufacturing sector takes a dip. Photo by Sam Moghadam @ Unsplash
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South Africa’s economy posts fragile 0.5% Q3 growth in 2025
Bassirou Diomaye Faye, President of Senegal. Photo @ Office of President, Senegal/Facebook
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Busy street of Nigeria. Photo Muhammad Ibrahim @ Unsplash
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Bassirou Diomaye Faye, President of Senegal. Photo @ Office of President, Senegal/Facebook
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